Liabilities / Assets
83rd percentile
Higher debt load relative to assets than 83% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.65x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
30th percentile
Faster asset growth than 30% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Down$1,677,996
Down $52,871 (-3.1%) from 2011
Net Assets
Down$584,219
Down $49,387 (-7.8%) from 2011
Liabilities
Down$1,093,777
Down $3,484 (-0.3%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Up$2,763,241
Up $546,092 (+25%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2011 to Jun 30, 2012
- Signed
- May 13, 2013
- Return Version
- 2011v1.5
- Gross Receipts
- $2,736,446
Mission and Program Overview
Mission
The mission of veritas academy is to minister to families by partnering with christian parents to provide for their children a classical education so that these children may commence a lifelong pursuit of knowledge, wisdom and understanding in their purposeful and passionate service of jesus christ, for the glory of god. Veritas academy has adopted a university-model approach that integrates profession instruction with parent mentored study and character development to achieve a college preparatory level of academic excellence.
Filing and Contact Details
Filer
- EIN
- 20-1632745
Raw XML AppendixShowing 400 of 512 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ActivitiesConductedPartnership | 0 | 0 |
| IRS990/ActivityOrMissionDescription | 0 | VERITAS ACADEMY (VERITAS) IS A UNIVERSITY-MODEL COLLEGE PREPARATORY SCHOOL THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT MENTORED STUDY. VERITAS WAS INCORPORATED IN THE STATE OF TEXAS IN AUGUST 2004. THE MISSION IS TO MINISTER TO FAMILIES BY PARTNERING WITH CHRISTIAN PARENTS TO PROVIDE FOR THEIR CHILDREN A CLASSICAL EDUCATION FOUNDED UPON A BIBLICAL WORLDVIEW SO THAT THESE CHILDREN MAY COMMENCE A LIFELONG PURSUIT OF SERVICE OF JESUS CHRIST, FOR THE GLORY OF GOD. VERITAS ACADEMY HAS ADOPTED A UNIVERSITY-MODEL APPROACH THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT MENTORED STUDY AND CHARACTER DEVELOPMENT TO ACHIEVE A COLLEGE PREPARATORY LEVEL OF ACADEMIC EXCELLENCE. |
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| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | THE SCHOOL HAS ADOPTED FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THAT STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 1 | FINANCIAL AID TUITION ASSISTANCE 108,778. FUNDRAISING EXPENSES INCLUDED IN REVENUE -19,562. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 2 | FINANCIAL AID TUITION ASSISTANCE 108,778. FUNDRAISING EXPENSES INCLUDED IN REVENUE -19,562. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 0 | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 1 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 2 | PART XIII, LINE 4B - OTHER ADJUSTMENTS: |
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| IRS990ScheduleD/TotalRevenue | 0 | 2713854 |
| IRS990ScheduleD/TotalRevenuePerForm990 | 0 | 2713854 |
| IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt | 0 | 2674025 |
| IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt | 0 | 2624638 |
| IRS990ScheduleE/ComplianceWithRevProc7550 | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPolicies | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthleticProg | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPolicies | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmnFaculty | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActy | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceScholarships | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStudentsRights | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFclts | 0 | 0 |
| IRS990ScheduleE/Form990ScheduleEPartII/Explanation | 0 | THE SCHOOL PUBLISHES A NOTICE, AS SPECIFIED IN REV PROC 75-50, IN THE FRONT SECTION OF THE PREDOMINANT NEWSPAPER IN OUR AREA DURING THE TIME THAT STUDENTS ARE BEING SOLICITED. |
| IRS990ScheduleE/Form990ScheduleEPartII/Identifier | 0 | EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION |
| IRS990ScheduleE/Form990ScheduleEPartII/ReturnReference | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/GovernmentFinancialAidReceived | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRevoked | 0 | 0 |
| IRS990ScheduleE/MaintCopiesOfAllSolicitations | 0 | 1 |
| IRS990ScheduleE/MaintCopiesOfBrochuresEtc | 0 | 1 |
| IRS990ScheduleE/MaintRacialCompositionRecords | 0 | 1 |
| IRS990ScheduleE/MaintScholarshipsRecords | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmt | 0 | 1 |
| IRS990ScheduleE/PolicyPublViaBroadcastMedia | 0 | 1 |
| IRS990ScheduleE/PolicyStatementInBrochuresEtc | 0 | 1 |
| IRS990ScheduleG/EventsInformation/CharitableContributionsEvent1 | 0 | 16517 |
| IRS990ScheduleG/EventsInformation/CharitableContributionsTotal | 0 | 16517 |
| IRS990ScheduleG/EventsInformation/DirectExpenseSummaryEvents | 0 | 19376 |
| IRS990ScheduleG/EventsInformation/EntertainmentEvent1 | 0 | 3150 |
| IRS990ScheduleG/EventsInformation/EntertainmentTotalEvents | 0 | 3150 |
| IRS990ScheduleG/EventsInformation/FoodAndBeverageEvent1 | 0 | 8156 |
| IRS990ScheduleG/EventsInformation/FoodAndBeverageTotalEvents | 0 | 8156 |
| IRS990ScheduleG/EventsInformation/GrossReceiptsEvent1 | 0 | 71116 |
| IRS990ScheduleG/EventsInformation/GrossReceiptsTotal | 0 | 71116 |
| IRS990ScheduleG/EventsInformation/GrossRevenueEvent1 | 0 | 54599 |
| IRS990ScheduleG/EventsInformation/GrossRevenueTotalEvents | 0 | 54599 |
| IRS990ScheduleG/EventsInformation/NameOfEvent1 | 0 | LEGACY GALA |
| IRS990ScheduleG/EventsInformation/NetIncomeSummary | 0 | 35223 |
| IRS990ScheduleG/EventsInformation/NonCashPrizesEvent1 | 0 | 1331 |
| IRS990ScheduleG/EventsInformation/NonCashPrizesTotalEvents | 0 | 1331 |
| IRS990ScheduleG/EventsInformation/OtherDirectExpensesEvent1 | 0 | 4256 |
| IRS990ScheduleG/EventsInformation/OtherDirectExpensesTotalEvents | 0 | 4256 |
| IRS990ScheduleG/EventsInformation/RentFacilityCostsEvent1 | 0 | 2483 |
| IRS990ScheduleG/EventsInformation/RentFacilityCostsTotalEvents | 0 | 2483 |
| IRS990ScheduleI/Form990ScheduleIPartIII/AmountOfCashGrant | 0 | 108778 |
| IRS990ScheduleI/Form990ScheduleIPartIII/DescriptionOfNonCashAssistance | 0 | CREDIT APPLIED TO TUITION INVOICE |
| IRS990ScheduleI/Form990ScheduleIPartIII/MethodOfValuation | 0 | FMV |
| IRS990ScheduleI/Form990ScheduleIPartIII/NumberOfRecipients | 0 | 73 |
| IRS990ScheduleI/Form990ScheduleIPartIII/TypeOfGrant | 0 | TUITION ASSISTANCE |
| IRS990ScheduleI/Form990ScheduleIPartIV/Explanation | 0 | SCHEDULE I, PART I, LINE 2: VERITAS USES AN INDEPENDENT, THIRD PARTY TO PROVIDE A RECOMMENDATION AS TO THE AMOUNT OF AID IT SHOULD CONSIDER PROVIDING A FAMILY BASED ON THE THIRD PARTY'S ASSESSMENT OF THE FAMILY'S FINANCIAL NEEDS. THE THIRD PARTY BASES THEIR RECOMMENDATION ON THE FINANCIAL DOCUMENTS PROVIDED BY THE FAMILY. VERITAS DOES NOT GIVE CASH AWARDS TO THE FAMILIES. INSTEAD, THE SCHOOL IMMEDIATELY APPLIES CREDITS AGAINST FAMILIES' TUITION INVOICES. |
| IRS990ScheduleI/Form990ScheduleIPartIV/Identifier | 0 | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: |
| IRS990ScheduleI/Form990ScheduleIPartIV/ReturnReference | 0 | PART I, LINE 2: |
| IRS990ScheduleI/RecordsMaintained | 0 | 1 |
| IRS990/ScheduleJRequired | 0 | 0 |
| IRS990ScheduleM/AnyPropertyThatMustBeHeld | 0 | 0 |
| IRS990ScheduleM/OtherNonCashContributionsTable/Description | 0 | GIFT VOUCHERS |
| IRS990ScheduleM/OtherNonCashContributionsTable/MethodOfDeterminingRevenues | 0 | FAIR MARKET VALUE |
| IRS990ScheduleM/OtherNonCashContributionsTable/NonCashCheckbox | 0 | X |
| IRS990ScheduleM/OtherNonCashContributionsTable/NoncashContribsRptdF990 | 0 | 1331 |
| IRS990ScheduleM/OtherNonCashContributionsTable/NumberOfContributions | 0 | 77 |
| IRS990ScheduleM/RealEstateOther/MethodOfDeterminingRevenues | 0 | FAIR MARKET VALUE |
| IRS990ScheduleM/RealEstateOther/NonCashCheckbox | 0 | X |
| IRS990ScheduleM/RealEstateOther/NoncashContribsRptdF990 | 0 | 39481 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $1,677,996
- Liabilities
- $1,093,777
- Net assets
- $584,219
- Revenue
- -
- Expenses
- $2,763,241
- Net income
- -